Brick Duplex with Separate
For Sale
Under Contract
$280,000
71 BOND Street, Westminster, MD 21157
Multi-Family, WESTMINSTER, MD
Property Size1,376 SF
Lot Size0.06 Acres
Price / SF$203.49
Days on Market160
Property Features for 71 BOND Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Parking Lot, On Street
Elementary school district
CARROLL COUNTY PUBLIC SCHOOLS
Middle school district
CARROLL COUNTY PUBLIC SCHOOLS
High school district
CARROLL COUNTY PUBLIC SCHOOLS
Standard status
Active Under Contract
Size
1,376 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
3813
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1910
Number of units
1
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Real Estate Innovations · Coldwell Banker Real Estate
(301) 662-8600
Listed By:
Erin Joyce · License #5009821
(240) 405-7635
Added: Mar 16
Changed: Aug 21
Last Checked: Aug 22 at 5:06AM
MLS# MDCR2032814
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,376-square-foot brick Colonial duplex, built in 1910, contains two separately accessed apartments. The main-level unit has one bedroom, one full bathroom, a living room, kitchen, and basement access for storage. The second apartment includes two bedrooms, one full bathroom, and a kitchen, with entry from the rear deck stairs and access to attic space that can serve as additional living, office, or storage area. One unit is currently occupied, while the other is available for an owner occupant or leasing strategy.
A rear parking lot provides off-street parking for both apartments, with additional on-street parking also available. Window unit cooling and other heating are in place. The property sits on a 0.0585-acre lot in Westminster, Maryland.
A rear parking lot provides off-street parking for both apartments, with additional on-street parking also available. Window unit cooling and other heating are in place. The property sits on a 0.0585-acre lot in Westminster, Maryland.
Key Highlights
- 1,376‑square‑foot duplex on a 0.0585‑acre lot
- Two apartments with separate entrances
- Unit A: 1 bedroom, 1 full bathroom, living room, kitchen, and basement access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,882
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,640
$357.6K
Cap Rate 7%
$255,457
$255.5K
Cap Rate 9%
$198,689
$198.7K
Market Conditions
NOI Build-Up for 1,376 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$26.7K $19.44/SF
− Vacancy
−$1.2K −$0.87/SF
EGI
$25.5K $18.57/SF
− OpEx
−$7.7K −$5.57/SF
NOI
$17.9K $13.00/SF
Area
Carroll County, MD
Vacancy
4.50%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$357,640
Cap Rate 7%
$255,457
Cap Rate 9%
$198,689
Alternative Uses
Best Use
Multifamily LT 5
$255.5K
$223.5K – $298.0K
NOI $17,882 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$220.7K
$193.1K – $257.5K
NOI $15,448 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$510.3K
$446.5K – $595.3K
NOI $35,720 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,373
Businesses Nearby
Explore this area
Business Placement
Demographics for 21157, MD
38,584
Population
15,466
Households
2.5
Avg Household Size
42
Median Age
37%
College-Educated
93%
High-School Grad
77.7 sq mi
ZIP Area
497
Density / Sq Mi
$102,835
Median Household Income
$50,254
Median Earnings
$1,236
Median Rent
$394,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Colonial property with off-street parking and one occupied apartment.
Where is this duplex located?
The property is located at 71 BOND Street Westminster, MD.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,376‑square‑foot duplex on a 0.0585‑acre lot; Two apartments with separate entrances; Unit A: 1 bedroom, 1 full bathroom, living room, kitchen, and basement access
